U.S. GDP increased at a 2.6% annual rateStaff writer ▼ | March 28, 2014
Economists had estimated that today's revision would show 2.7% growth. For all of 2013, the economy grew at a 2.6% rate, slightly more than the 2.5% previously estimated.
Consumer spending increased at a 3.3% annual pace, partly on stronger health care outlays, up from the previous 2.6% estimate. Also, state and local government spending and exports rose more rapidly than initially thought.
Business equipment expenditures, a key gauge of companies' appetite for capital spending, also picked up more than previously estimated. ■